Higher-Ticket Purchases Continue to Drive US Jewelry Sales Growth
US jewelry sales inched up 1.8% in May, while the average purchase price climbed 19.6% year over year, according to Tenoris retail sales data. Year-to-date revenue at US specialty jewelers is up 7.6%, outpacing the growth recorded during the same period last year.
While jewelry demand remains resilient, broader economic indicators point to increasing financial stress among some consumers.
Mother’s Day Sales
Mother’s Day remained the dominant sales driver in May, accounting for approximately one-third of monthly jewelry revenue.
Diamond jewelry sales during the week leading up to the holiday rose 1.8% year over year, while average spending per item increased nearly 20%. Unit sales declined by a low double-digit percentage.
Across all jewelry categories, sales revenue increased by a high single-digit percentage as consumers spent more per purchase. Necklaces and fashion rings were among the strongest performing categories.
May US Jewelry Sales Trends
Overall US jewelry sales remained healthy in May, reinforcing several long-term market trends: rising revenue driven by higher-value purchases, declining unit sales, and growing adoption of lab-grown diamond jewelry.
Gold jewelry generated the strongest revenue growth, rising 4.7%, although it also experienced the largest decline in unit volume.
One category diverged from latest trends. Finished diamond jewelry sales revenue declined in May, disturbing a nearly uninterrupted year-over-year growth streak that began in October 2024. It remains too early to determine whether this represents a temporary fluctuation or the start of a broader shift in consumer demand.
The trend toward higher price points continues to strengthen. Unit sales of jewelry priced at $2,500 and above increased by approximately 20%, while sales of lower-priced merchandise declined by double digits.
A similar pattern emerged in diamond jewelry, although the shift was less pronounced.
Consumers seeking lower price points increasingly gravitated toward silver jewelry and jewelry set with lab-grown diamonds.
What’s Driving these Trends
Two structural factors continue to shape jewelry purchasing patterns: the growing popularity and declining prices of lab-grown diamonds, and elevated gold prices.
However, broader economic conditions may also be influencing consumer behavior.
According to the Federal Reserve Bank of New York, the share of credit-card balances that were at least 90 days delinquent rose to 13.12% during the first quarter of 2026.
That marks the highest level since the early 2000s and one of the highest readings recorded since the aftermath of the 2008 financial crisis.
The report also noted that student-loan delinquencies have returned to pre-pandemic levels and that serious mortgage delinquencies have continued to increase.
These developments may help explain the widening gap between consumers facing financial pressure and those with the ability to continue spending on luxury jewelry purchases.
Tenoris Retail Panel Expands
Our latest reporting period included a significant increase in the number of retailers contributing sales and inventory data to the Tenoris Retail Panel.
As a result, the market data we track has expanded by approximately 5%, providing a broader and more representative view of the US jewelry market.
The larger panel enhances our ability to identify trends, uncover opportunities, and deliver deeper insights into jewelry and diamond consumer behavior.
The figures highlighted above represent only a small portion of the intelligence available through Tenoris.
Contact us to schedule a demonstration and learn how our US jewelry sales and inventory data can help your business make more informed decisions.
